Robert M. Daly | Source | Director of Fixed Income at Glenmede Investment Management
Robert M. Daly
Robert is the Director of Fixed Income at Glenmede Investment Management. He is responsible for the management of over $4 billion of tax-exempt and taxable fixed income strategies for institutions, consultants and private clients. Rob works closely with a team of traders, portfolio managers, credit analysts and other professionals to broaden exposure to GIM’s fixed income suite. He also serves as a member of GTC’s Investment Policy Committee.
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Glenmede Investment Management (https://www.glenmede.com)
Director of Fixed Income
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Chances of a markets-led recession arriving sooner than expected are growing, investors and traders say
A meltdown in U.S. stock prices, driven by pessimism about the outlook, is giving way to the growing risk of a markets-led downturn, traders and investors say.
Article
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The previous thinking in markets had been that inflation and the Fed’s fight to end it would be what gets us into a recession. But it’s the repricing in markets now that could lead us to recession by slowing growth. Those chances are definitely increasing probably every day. The market is starting to see the potential that inflation won’t be controlled as quickly as we would hope, and that maneuvers by central banks — not just the Fed — are going to squash growth, which could push us down faster than we thought. The bond market is pricing in this lower growth scenario and is taking some of its cues from the stock market, without necessarily signaling what it thinks about how much the Fed will hike rates anymore.
